Fairview or Lucas? Lucas or fairview?
June 2nd, 2008
Now that we have entered the peak buying season, this is as good a time as any to talk about the differences between Fairview and Lucas. People ask us all the time, "Where is the better place to live, Fairview or Lucas?" Of course, that is an impossible question to answer, but I realize it is asked because of the strong similarities between the two towns. Both towns share the same school district, the great majority of the homes in both towns are on septic systems (which means almost all of the homes are on one acre lot minimums), both towns have about 5,000 people (at the time of this article), both towns have now voted in "home rule" and of course, the towns border each other.
I have a pretty unique perspective in this area for a couple of reasons. I have been the top selling Realtor in these two towns over the past 7 years, plus, I have lived in Lucas since 1997. I can honestly say I'm very fond of Lucas and consider it home, but there are things about Fairview I also really like.
Schools
The great majority of Fairview and Lucas residences are located within Lovejoy Independent School District. Many people (even Realtors) don't realize there are areas of both towns that are not within Lovejoy ISD. Some of Fairview is within McKinney ISD and some of Lucas is within Princeton ISD and Plano ISD. We have sold homes to parents with children in all of these school districts, many of whom moved to those homes specifically because of those school districts. However, since the majority of Lucas and Fairview is in Lovejoy ISD, that is the district I will spend the time on.
The school system is the backbone and driving force behind Fairview and Lucas. In fact, many buyers will begin their home search by researching school ratings. Then they start to look for their home. If they are looking for a top flight school district in Texas, Lovejoy will jump out at them. "Only three of the 19 exemplary districts in all of Texas serve more than 1,000 students, according to enrollment data from the last school year. All are in North Texas - Carroll, Highland Park and Lovejoy".
As with all successful school districts, it starts with the parents. The Lovejoy parents are second to none in volunteer work and fund raising. As an example, the Lovejoy Foundation raises over $100,000 for the district in their annual Denim and Diamonds gala event. Lovejoy is a considered a wealthy school district by the state of Texas, and not surprisingly, that translates into quality administrators, teachers, staff, and facilities.
Lovejoy Elementary is the original school in Fairview with the longest history of tradition and excellence. It has been added onto, but the original little red school house still remains as a source of civic pride. They are working out of portable buildings in that school, but when the newest elementary school is completed, it will alleviate that overload. Hart Elementary in Lucas was the second elementary school built for the district. It has all the bells and whistles of a newer school. The newest elementary school will be called Puster Elementary. It is located on Stoddard Road in Fairview and is due for completion in the Fall of 2008.
The Lovejoy High School for a short time served as both the middle and high school, however growth has come so quickly to this area, the district has had to fast track their new middle school (Lovejoy Middle School) on Country Club Road.
Where Will I get the most for my money?
Fairview and Lucas both have their share of fine homes, but I don't think anyone would argue there are many more ultra high end homes in Fairview than Lucas. Fairview has beautiful subdivisions like Oakwood Estates, Stone Creek, Ascot Heath, and The Woods of Ascot Heath. Those homes start in the $600's and go well into the million dollar range. Lucas also has many homes in the $600's to $700's in high end subdivisions like The Estates of Huntwick, Forest Creek Estates, Creekwood Estates, and Tokalaun. Lucas just doesn't have the number of million dollar plus homes you will find in Fairview.
I have always held a general rule of thumb about land prices in Fairview versus Lucas. A two acre lot in a nice subdivision in Lucas will sell for about the same price as a one acre lot in a nice subdivision in Fairview (around $175,000). This would still hold true today, but the reality is, both towns are just about out of lots that are not owned by the home builders. There are still lots remaining in Tranquility Farm (Fairview's newest, high end, custom home subdivision) and a few scattered lots left in 30 year old (and older) subdivisions. We are not quite at the point of Highland Park (Dallas' premier location) where older homes are being torn down to build new homes on the land, but I wouldn't be a bit surprised to see that happen in the next 5 to 10 years if the demand continues.
I personally believe Lucas is where you will get the most bang for the buck. Although there is no way I could possibly support this with facts and figures, my instincts tell me this ... In today's market, if the exact, same home were built on the exact, same lot (and the lots were priced identically) both in Fairview and Lucas, the Fairview home would probably sell for about 5-10% more than the Lucas home.
How About Location?
Fairview actually touches Central Expressway (US 75) so if you need quick access to a major thoroughfare to get you to downtown Dallas, it's probably your best bet. It is also minutes from two hospitals, shopping in Allen, and restaurants. The downside of Fairview is the traffic (especially on Stacy Road) is starting to become a problem. Unfortunately, this is only going to get worse when the Fairview Town Center opens.
Lucas is fairly isolated from the congestion and will probably remain so for some time. Even so, it only takes about 10-15 minutes to reach US 75 from the furthest reaches of Lucas. Lucas is definitely quieter and the nights are darker with Lake Lavon just to the east. You will see more wildlife in Lucas (red tailed hawks, road runners, rabbits, owls, woodpeckers, coyotes and maybe a bobcat or two (they won't hurt you but they will take a cat or small dog if not kept fenced), ducks, turtles, etc. because of its proximity to all of the corps of engineer land around the lake.
Where will My best appreciation be?
For a small town, Fairview has seen a tremendous amount of high end, custom home building over the past 4-5 years. Every year, it seemed there was at least some appreciation for the sellers, at least in the more prominent subdivisions. However, in 2006, I noticed for the first time that it wasn't quite as easy to sell homes in those subdivisions as it always had been. Some of the older homes on incredible wooded lots in Fairview are now going to require some investment dollars to bring the interiors up to today's buyer's standards.
Lucas has also had its share of custom home building, but that has been slight when compared to the recent number of new, production homes. Please note here that I use "production homes" for lack of a better term. Production homes are simply homes with repeatable floor plans throughout the same subdivision with different facades. They are not designed from the ground up as a true custom home would be. But that doesn't mean they are inferior to a true custom home ... they are just less expensive. With repeatable floor plans and builder discounts due to volume pricing, they just cost less to build. However, I have sold some beautiful, semi-custom production homes that would stand up to the finishout of the nicest true custom home in the area.
Paul Taylor, Drees, and David Weekley have been very busy in Lucas. They are building very impressive homes from the $400's all the way to the $700's. Those homes have all the features buyers want today ... granite, hardwoods, tall ceilings, gamerooms, stainless steel appliances, media rooms, thick moldings, 8' solid core doors, surround sound, etc. This segment of the market has taken away a lot of buyers from the older, true custom homes in Fairview, even those on beautiful, heavily wooded lots. I have seen reluctance from some sellers to believe their true custom home could be competing with the newer production homes, but I can assure you, we see it all the time. Remember, people may love a lot, but they live in the home.
Bottom line? I don't think there will be any difference in the rate of appreciation between a home in Fairview or Lucas over the years. Although sales have slowed down in 2007 into 2008, prices have actually held steady or even increased. That is a testament to how much demand there is for the quality of life offered by both towns. And when all of the land is developed, then watch the homes start to appreciate quickly!
Which town has the beauty?
Fairview is known for its fabulous, hilly, wooded subdivisions. In fact, the subdivisions which really kicked Fairview off many years ago (River Oaks One and River Oaks Two) are as impressive as any subdivision land in Dallas or Collin County. You'd think you were in the Texas hill country. Many of those homes are 20 years and older and are now requiring some pretty significant renovations to meet what today's buyers are looking for. If you have the patience and funds for a major renovation on an older home, you would be hard pressed to find a more impressive subdivision in north Texas. No question, if you are looking for hilly, wooded land, Lucas cannot compete with Fairview.
Lucas, on the other hand, has its own beauty. While much of Lucas is laser level flat (coming out of Allen) the land starts to change to rolling and becomes more heavily wooded the closer you get to Lake Lavon. I personally prefer the wide open spaces of Lucas and the larger lots. I like looking out to a sunset or across open land rather than living under a canopy of trees, but I know many, if not most, buyers prefer the trees. Although there is not as much wooded land in Lucas as Fairview, there are some beautiful, heavily wooded lots throughout the town with homes already on them. Just not nearly as many as Fairview.
Which town Is better for Recreation?
Probably Lucas, especially if you like horses and lakes. Whereas most of Fairview is zoned for one acre, minimum sized lots, most of Lucas is zoned for two acre, minimum sized lots. That extra acre land is essential for a horse, so, not surprisingly, Lucas is heavy on small, two acre ranchettes. It is a very horse friendly town. Many of the newer subdivisions have allowed horses in Lucas, but you won't find that in any of the newer subdivisions of Fairview. There is also a real network of horse lovers in Lucas. Everyone knows each other, the vets, the ferriers, where to get hay, etc. There are riding groups, stables, and someone is always looking for a trail ride partner. Lucas is also part of the Trinity Equestrian Trail, a 9 mile long path around Lake Lavon, and it is being expanded even further. One of the trailheads is located in Lucas at Brockdale Park.
Lucas also has two boat loading ramps servicing Lake Lavon, one of the Dallas area's best kept lake ecrets. Water skiing, fishing, sail boating, parasailing, you have it all if you are a lake person. The Army corps of engineers owns all of the land around the lake, so there are plenty of places to haul out for a private picnic on public land.
Retail Conveniences
Unless you consider the Lucas Food Store retail (those of you who live here know what I mean by this), there is no retail in Lucas, and nothing on the horizon. The Lucas citizens have absolutely no desire for any retail whatsoever. Fairview talks the talk about "Keeping it Country", but Lucas walks the walk.
That has never bothered us because we like the country feel and we certainly don't miss the traffic. Now that Allen has now grown all the way to Lucas' boundaries, we are starting to reap the benefit of those new developments. With the opening of Watters Creek at Bethany Rd and Hwy 75, Lucas now has high end retail no further than 10 to 15 minutes from any home. Allen has definitely arrived! The way I look at it, Lucas is reaping the benefits from Allen attracting all of their high end retail and restaurants. A short drive into Allen is well worth the price of the semi-country lifestyle Lucas residents enjoy.
Fairview, with its location on Central Expressway, is not going to be able to "keep it country" for much longer. They already have the Allen Premium Outlet Center right across the freeway, and work has begun on the much anticipated Fairview Town Center, a 300 acre mixed use development. There will be about 2,000,000 square feet of retail and restaurants at the southeast and northeast corner of Stacy Rd and Hwy 75 by the end of 2008! Here is a link to the project site if you are interested ... The Village of Fairview
Infrastructure
Lucas has had their problems with streets in the past, but they are doing a much better job now of repairing pot holes. Hopefully, I have seen the last "chip-seal" street. Keep in mind, Lucas does not have the huge tax base that Fairview enjoys with all of the new retail coming in on Stacy Rd.
Fairview has its own police force (with their own patrol cars) whereas Lucas relies on the sheriff's department. I have called the sheriff's department twice in the 8 years I have lived in Lucas (both times on false alarms) and both times they were at our home within 10 minutes. You can't beat that, but I would still like to see Lucas with their own police department. As with many of the other issues discussed above, there is a strong contingent of people who don't want our own police force, so again, nothing happens. The good news is, I can't remember the last time I heard of any type of crime in Lucas except petty theft, so I can understand the argument that we don't need a police force.
Both Fairview and Lucas have their own volunteer fire departments with high ISO ratings and 6-7 minute average response times the last time I checked. Both towns get their water from the North Texas Municipal Water District, so there is no difference there.
In a Nutshell
Both Fairview and Lucas are wonderful places to live. You cannot go wrong in either town. Fairview has panache, and is more upscale, whereas Lucas will appeal to the person who enjoys a more laid back, country feeling. Lucas might have more opportunities for affordable, small ranchettes of two acres for horses. I personally believe you can get more for your money in Lucas than Fairview, but you will be more protected on your investment of an ultra expensive home in Fairview than Lucas (only because there are many more million dollar homes in Fairview). Both towns enjoy one of the finest school districts in the state of Texas. Fairview is closer to Central Expressway, SH 121, shopping, and hospitals. The traffic is also much more congested in Fairview than Lucas. Lucas is closer to Lake Lavon, horse trails, quiet nights, less traffic, dark nights, and wildlife.
Tom Grisak Estate Homes Realtors, Inc - Texas License # 0329533
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